Tax season isnít even officially over yet, and the IRS is already kicking back a record number of returns. Fasten your seatbelts. Weíre in for a bumpy ride.
How does depreciation work on business equipment? Depreciation is the government's way of rewarding your business for using increasingly cruddy stuff. Somehow, that makes sense.
The WOTC tax credit can save you up to $9000 per year for each qualified new hire you make. So why aren't you taking advantage of it? Here's a few things to consider when you decide whether you want to manage it internally or outsource it.
As quoted in the Los Angeles Times (March 15, 2010)You can never eliminate that chance of being audited, because a perfect tax return will be suspicious, too (who files perfect taxes?) Company.com has ten ways to reduce your risk of an audit Ė we figure that most small businesses donít have big accounts in the Caymans or Switzerland, and that if youíre reading this you havenít run into significant tax problems in the past. Otherwise you'd know this stuff already.
A good preparer also has the business acumen to tell you when you should make changes to the way you work. Anyone can run Quicken or use H&R Block automated tax preparation software. It takes brains to know how to use the tax information to glean business insight.
If you fully understand how to apply the dozens of different classification categories for depreciating fixed assets on a double-declining basis, feel free to keep your own tax records. Of course, if you do youíre probably an accountant, so thatís not exactly fair.
Which companies are the best known tax payment services? Do they offer services targeting small and medium-sized business?
Taxes bring joy to no one. For creative entrepreneurs, it can be the very worst part of their job. Companies are out there to keep your tax records and file your business taxes for you. Given the intricate and ever-shifting tax code, this may be one area in which a professional hand can really be valuable.
Paying taxes and filing taxes can be a daunting job. If youíre in business, then you know why accountants drive nice cars. However, before you sign up with any company offering tax services, it is essential to know what they offer and what you really need.
Aaron Patzer, CEO of Mint.com, discusses startup accounting and the financial history of Mint.com, which recently bought by Intuit for $170 million. Slides and video of Patzer's presentation are included.